Equitably distributing pensions and retirement plans have become more expensive. According to the Divorce Law Journal, Fidelity and Charles Shwab are now imposing fees to process Qualified Domestic Relations Orders (“QDRO”).
A QDRO is a court order that recognizes the right of the ex - spouse to receive all or part of a pension plan that belonged to their ex – spouse.
The financial institutions can charge the processing fees so long as they are authorized by the retirement plan. Now, the parties not only have to negotiate the division of the pension and the cost of preparing the QDRO, but the expense of implementing the QDRO, as well